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Alexion (ALXN) Stock Gains on Ratings Upgrade

NEW YORK (TheStreet) -- Shares of Alexion Pharmaceuticals (ALXN) are rising 1.67% to $126.50 in pre-market trading on Monday after Credit Suisse upgraded the stock to "outperform" from "neutral."

The ratings upgrade reflects Credit Suisse's belief that the stock has more potential for upside surprises than downside surprise at its current level.

"We think expectations now bake in biosimilar/competition risk, and we see various products in the pipeline that could drive upside from here," the firm said.

But the firm cut its price target to $165 from $186 on shares of the New Haven, CT-based...


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